Resource management is the most crucial part of project management because herein lies planning, allocation, and optimization of resources related to he efficient execution of tasks within eligible limits imposed on the budget, schedule, and scope. Here’s an exhaustive description containing methods of resource management along with examples of implementation:
Resource Planning
1.Resource Identification
The following resources are to be identified for the project:
- Human resources includes team members, contractors, and specialists.
- Physical resources include equipment, tools, and facilities.
- Material resources contain supplies and raw materials.
Example: A bridge construction project might have resources like civil engineers, cranes, concrete, and steel.
2. Assessment of Availability of Resources
Assess well with all necessary resources, judging by the schedule of personnel, lead times for equipment, and timelines for procurement of materials.
Example: A project manager will check if developers are available and whether extra software tools will be needed to develop a software product.
3. Resource Estimation
Estimate the need for resources in each activity in terms of quantity and duration to facilitate the development of a complete resource allocation plan.
Example: A project manager would predict that three developers would need to work for two weeks to complete the coding phase of a new application.
Resource Allocation
1. Assigning Resources:
Allocate resources to tasks based on the available skills and knowledge of the people assigned to them. Schedule allocations according to project timelines to obtain optimum efficiency.
Example: In a campaign marketing, a visual is being developed by one graphic designer while another is blogging in line with that campaign.
2. Resource Levelling:
This should bring more even resource usage concerning resource-leveling. However, usually, this happens by changing schedules so that tasks are carried out at different times, and therefore not unbalanced over time.
A case in point may be a manufacturing project. Schedule timelines by production processes to avoid any equipment from getting overpowered by too many activities during peak-demand times.
Resource Optimization
1. Conflict Resolution on Resources
Conflict management between tasks for the same resource must be done by redefining task schedules, substituting resources, or stretching out periods.
Example: A project manager reschedules tasks within a hospital construction project where electrical and plumbing works require the same contractor so as not to stall the project.
2. Managing Resource Constraints
Resource constraints would be substituted with alternatives wherein outsourcing, temporary hiring, and the redeployment of available resources from much less critical tasks are possible options.
Example: In an event planning project, the manager outsourced logistics to an event company while supplementing the capacity of the in-house team.
3. Monitoring Performance of Resources
Resource usage and performance should be tracked to ensure that they operate at the most efficient optimal condition and to identify areas for improvement. Productivity rates in percentage or utilization percentages are potential metrics by which success is measured.
Example: Research project, the manager evaluates put on paper by the assistant researcher by calculating experimental completion as well as the quality of data.
4. Control Resource Costs
All cost covers labour, materials, and equipment costs. The actual costs are compared with the budgeted costs in the project to avoid overruns.
Example: Under construction of the a project, regular on budget are doing to trace or receivables against materials such as cement and steel.
Resource Management Fulfill the Project
Resource management thus also contributes to guaranteeing the completion of project tasks on time, within budget, and at the desired quality standard. Good resource planning, allocation, and optimization reduce project risk and improve efficiency to achieve project objectives.
